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Posts Tagged ‘Buying’

Top 7 Benefits Of Buying Used Cars

Indian used car market is booming at a rapid pace. The key factors contributing to increased sales of used car are easy availability, lower interest rate, and low cost of purchase. At present the market is dominated by unorganized sector but gradually organized sectors are picking up the growing used car market.

Leading Indian car players like Maruti Suzuki, Honda Seil Cars India, Tata Motors, and General Motors have set up their used car business in the country to tap lucrative opportunities in the segment. Today, as more and more car manufacturers are entering the used car market people are confidently buying used cars. These authorized used car dealers refurbish the car and do the required servicing so that the value of the car can be enhanced. The skilled engineers even do on-spot checking of various car points to satisfy customers.

In addition, the tight financial market has contributed to boost the sales of used cars in the country. There are various advantages of buying used cars over new car purchase.

Here are the top 7 benefits of buying used cars:

1. The key benefit of buying a used car is low cost of purchase.

2. New cars lose 20% of its value in the first year of its ownership and 10% in the subsequent three years. After that the car loses it value at a rate of 5% every year. So, if you buy a used car then the depreciation value will be much lower than that of a new car. This is mainly because the used car that you plan to purchase has lost most of its value during its first ownership period.

3. If the price of the used car is low then obviously the insurance premium is lower as compared to the new car insurance.

4. In the used car market, you can get a wider option for selecting your car. If you have kept aside an amount of Rs 3 Lakh for buying a car, you can either buy a new Alto or a new Spark. The same amount can also be used to buy a used Swift Dzire or even a 10 year old Mercedes-Benz car.

5. While buying a used car you don’t have to pay an additional cost for latest car accessories. Most of the car owners load their car with a host of new features and technologies.

6. The overall ownership cost of used car is comparatively lower than the new car ownership cost. The total cost of ownership includes the price of the car, insurance, maintenance cost and the depreciation value.

7. When you decide to buy a used car the performance of the car is transparent as you verify the working of the car as well as the problems faced by the car by simply checking the service history of the car. This will help you make a wise decision

Buying Cars

The purchase of a car can be very long and difficult process for some. In this article I will give the entrances and exits to buy a car when a used car or a new car. There are other aspects, I will be talking about how car insurance and car loans. Since the Internet revolution in car buying process has been strong, and we can getter better treated than ever before!

The first thing to do is research! Find out what cars you are interested in. If you buy a car for a while, so it is better so! The Internet is a good place to start when the investigation cars. There are many sites that have a wealth of information on all car models. Take a look around and find some cars that are in your price range. Note the brand and model cars for later use. If you buy a new car, you should also write the blue book value of the car. This comes in handy when a seller of cars trying to get extra money.

The next step in buying a new car’re. Take a look at your local car dealers and see whether it is one of the car models, which were interested in them to take a good piece of evidence to ensure that the car you like, and units. Sometimes looking for the best cars do not meet their needs or by car. Make sure that you just go and see! You do not even think to buy everything at this moment. Do not let a salesman cloud their judgement about the brand and model of car you want. You just want to sell more expensive (normally). Once you test driven a few cars, go home! A little more research into cars that are really interested and wanted. Once you’ve noticed that the car in its price class units and the way you wish, you can looking to buy.

The most important thing when it comes to the sale of cars not! You know how much your car is worth, because research on the Internet. Let the seller know that you have examined, and you know what you are talking about. The biggest tip when buying a new car is patience. Its ok to go to the car dealership a few times before you the price you want. Finally, if the price you want, buy it!

If you buy a used car’s very important to ask a lot of questions. There are a lot of things that people are not informed of their used cars. Ask for all cars upgrades, repairs, accidents and everything else. A good idea is also reviewing the VIN number on the Web and see all the information about the car. You can find almost all of these searches use of VIN numbers. I usually try to stay away from cars in buying a used car. The Internet is really a very good place to find used cars. EBay is a great resource for finding used cars. There are also some other sites for the sale of used cars, as Autotrader.com. Its also important to be patient when you buy a used car as well. Third-party providers are more willing to reduce their prices, and just want to get the car out of his hands. Give him some time, and that brings prices down.

I hope this article has given you much

Leasing Car Versus Buying an Automobile

If you compare the costs of leasing car versus buying, you may find that leasing is cheaper. If you consider that there are substantial penalties on early lease termination or a payment default, there is a potential hidden cost to a lease, along with a definite negative impact on your credit rating. If you are trying to decide between leasing and purchasing, consider your lifestyle. Leasing a car can become very expensive if you pass the limit on mileage or if you use the car heavily, resulting in unusual wear and tear. If you are someone who puts substantial miles on a vehicle and will not be bothered by paying repair bills, you’re someone who should probably purchase the car.  

Leasing Car Versus Buying Tips

Let’s look a little closer at comparing leasing car versus buying an automobile. There’s no right answer. Both options have their own advantages and disadvantages. Your personal and financial situation will be a major factor in the decision.

What can you afford? Are you confident that your employment is stable? All things considered, are you in good financial shape. If you need a lower monthly payment, consider that the monthly lease payment is less than the payment on an auto loan. However, if a sense of ownership is important to you and you do have the cash available to make the required down payment and pay the sales taxes, you should look closely at purchasing a car.

Back to the question of leasing car versus buying. If you find you really need or want a luxury car, but can’t cover the costs of purchasing a car, leasing one may be your only other choice. Again, let’s go back and re-examine what could be high and unexpected costs associated with a lease. If you turn the car in early, miss a payment, exceed the contracted mileage or put excessive wear and tear on the car, you could find yourself facing major financial penalties and putting your credit rating in jeopardy. If you do decide to lease, make sure your budget takes the monthly payment into consideration for the length of the lease.

Of course, there’s still the factor of lifestyle. Do you really want to own the vehicle? Or, are you happier, turning in a vehicle for a new one on a fairly regular basis. How long do you intend to own the car? If you’re going to be keeping the car for several years, you will probably be better off purchasing the car, negotiating for the best possible financial terms. If you’ll be keeping the car for only two or three years, leasing might be a better option.

Then there’s the question of mileage. If you’re going to be driving a car under 12,000 or so miles a year, leasing may be the better way. Most lease contracts do have limited mileage and the contracts contain substantial penalty clauses for over mileage. Where you drive can be important. If you’re in an environment that simply puts a lot of wear and tear on your car (rough roads, cracked

Top Ten Tips for Buying a Used Car

Are you in the marketplace for buying a second hand motor vehicle? Choosing the right vehicle which is good value for money and will be reliable in the long term can be quite difficult. You can help yourself make the right decision by following some basic guidelines that can help you choose between the bargain cars and the ones that will cause you long term misery. Read our top ten tips for buying a used car guide.

1) Pick a Budget and Stick to It.

When you are buying a used car it is easy to get carried away when you’re already spending a lot of money- a few hundred pounds more to secure the ‘car of your dreams’ can easily seem reasonable, but could leave you in debt. Remember there are always other expenses that you have to pay for when you buy a car, such as Road Tax and insurance. Before you start looking for a new car decide on a budget and religiously stick to it, that way you can be assured good value for money.

2) View the Car in Daylight

When you do finally decide to go to look at a car, don’t make the mistake of going to see the car at night. Perhaps you have a full time job and it isn’t possible to leave work to go and view a car in the week and you think that the car in question may be sold by the time the weekend comes around. Although it can be a temptation to save time and ‘jump the queue’ of other potential purchases, going to see a car at night can leave you open for an upset. Basically you will not be able to get a good look at the condition of the car in poor visibility. Instead of being impatient either wait until the weekend or take a day off work and go and see a group of cars to make the most of your time.

3) Consider an Inspection

Lack mechanical knowledge about motor vehicles? For those who don’t know their big end from their fuel injection system perhaps a professional mechanical appraisal may be a sensible option. Although there will be an expense involved with this you will get peace of mind from discovering what if anything is wrong with the vehicle. Also by telling the vendor you are going to get a mechanical appraisal then you will be able to see how they react to this. If they suddenly looked panicked and try to dissuade you then you can presume that there may be something wrong with the car that they are trying to hide. If a mechanical appraisal does highlight problems with a car, this doesn’t mean that you should walk away from the motor vehicle- all cars can develop faults. Instead judge as to how much these issues are likely to cost to repair as this can give you additional bargaining power with the vendor to get a discount. However, if in doubt walk away from the deal, there is always another car out there!

4) Take it For a Test Drive

You’ll definitely need to take any prospect car you are looking to buy for a test drive prior to purchase. If this

A Car Buying Story, Part Two: How?

So how do I buy a car once I know what I like? There are several options, plus a few payment options as well. It can make quite difference both money-wise and regarding your own satisfaction. This is what I have considered:

Buying a new car

This is the easiest option of course. It has many advantages, and a single disadvantage: you pay the price for all those conveniences. In the end this is what I did, for the following reasons:

I don’t have to think how the previous owner maintained the car.

New car should be problem free for a few years longer than a used car.

Warranty is usually 3-5 years, or 60K-100K km, so you get to use it longer. Of course with the new car, there are less chances that you’ll actually use it, but you never know.

If you’re financing, you get a better interest rate. It ranges from 0% to 4% (currently for this year’s models), while if you’re buying a used car and want to finance using bank loan, the best you can get is currently about 8%.

If you’re buying replacement insurance — it’s usually too expensive for the car older than 5 years. With the new car you can get it for a fair price for the first 3-5 years.

Once you decide what you want, it’s easy to buy it: you walk into the dealership and within couple of hours you have the car. And in my situation that was beneficial since I did not have the car. Otherwise, this convenience can actually work against you.

You can get exactly the model you want, including color and other little things.

Buying a new car in a rural area

This is something I’ve heard of but haven’t explored in full. The idea is to go out of the city to dealerships with smaller sales numbers, and try to negotiate better price with them. Now, I’m not the best negotiator, so I wasn’t really counting on this option, but I tried anyway. I went 150km away and spent a day talking to dealers and did almost nothing — I’ve got 0 reduction. I might have done better if I had more time and wanted to come back and spend it. But I gave up.

It can certainly benefit, but you have to be prepared to visit every dealer in your area. It’s definitely not a quick win.

Buying a used car

This is certainly my favourite option, but it takes time and effort. And you can find an excellent car that is not really worse than a new one, for a low price. But you have to wait and search and negotiate. If you have a car to drive and you have the time to spend on looking for a new one, always do this. The depreciation of the new car is the biggest in the first years, so you save a bunch by buying 2-3 years old car. And sometimes those cars have very low mileage. Only beware of leased cars — sometimes they are not maintained too well since they are being leased and the owner knows it’ll be changed in a few years.